M/I Homes (NYSE:MHO) Trading 4.5% Higher - Time to Buy?

M/I Homes, Inc. (NYSE:MHO - Get Free Report)'s stock price rose 4.5% on Friday . The company traded as high as $111.00 and last traded at $114.00. Approximately 90,827 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 286,723 shares. The stock had previously closed at $109.10.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MHO. StockNews.com upgraded shares of M/I Homes from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th. Raymond James reissued a "strong-buy" rating and set a $168.00 price target (down from $210.00) on shares of M/I Homes in a research report on Thursday, January 30th. Finally, Seaport Res Ptn upgraded shares of M/I Homes from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th.

M/I Homes Trading Up 5.7 %

The company's 50 day moving average is $117.24 and its 200 day moving average is $140.09. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 5.59 and a beta of 1.99. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.93 and a current ratio of 7.65.

M/I Homes (NYSE:MHO - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The construction company reported $4.71 earnings per share for the quarter, missing analysts' consensus estimates of $4.96 by ($0.25). M/I Homes had a return on equity of 20.20% and a net margin of 12.51%. On average, research analysts forecast that M/I Homes, Inc. will post 18.44 EPS for the current fiscal year.

Remove Ads

Institutional Investors Weigh In On M/I Homes

Several institutional investors and hedge funds have recently bought and sold shares of the company. Donald Smith & CO. Inc. boosted its position in M/I Homes by 6.0% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,164,189 shares of the construction company's stock valued at $154,779,000 after acquiring an additional 65,771 shares during the last quarter. American Century Companies Inc. increased its stake in shares of M/I Homes by 2.4% during the 4th quarter. American Century Companies Inc. now owns 850,417 shares of the construction company's stock worth $113,063,000 after purchasing an additional 20,055 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of M/I Homes by 3.1% in the third quarter. Geode Capital Management LLC now owns 723,797 shares of the construction company's stock valued at $124,050,000 after buying an additional 21,575 shares during the period. Franklin Resources Inc. lifted its holdings in M/I Homes by 2.3% during the fourth quarter. Franklin Resources Inc. now owns 687,488 shares of the construction company's stock valued at $91,402,000 after purchasing an additional 15,685 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of M/I Homes by 8.4% during the 4th quarter. Northern Trust Corp now owns 347,000 shares of the construction company's stock valued at $46,134,000 after buying an additional 26,820 shares in the last quarter. Institutional investors own 95.14% of the company's stock.

M/I Homes Company Profile

M/I Homes, Inc, together with its subsidiaries, engages in the construction and sale of single-family residential homes in Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and Tennessee. The company operates through Northern Homebuilding, Southern Homebuilding, and Financial Services segments.